Silence on special status disappoints industry

March 01, 2015 12:00 am | Updated 06:01 am IST - VIJAYAWADA:

CII members watching presentation of Union Budget by Finance Minister Arun Jaitley in Vijayawada on Saturday.Photo: Ch.Vijaya Bhaskar

CII members watching presentation of Union Budget by Finance Minister Arun Jaitley in Vijayawada on Saturday.Photo: Ch.Vijaya Bhaskar

Union Budget has disappointed the industry in the State on Saturday. The people pinned a lot of hopes on the Union Budget and expected that the Centre would make an announcement on special status to Andhra Pradesh. But, the government dashed their hopes, said industry captains.

The Confederation of Indian Industry (CII) Andhra Pradesh chapter organised a live tele-viewing of budget session here.

Later, interacting with media persons, CII members and experts of various sectors said, “The budget is disappointing though overall budget is positive. The government skipped on assurance given to people on special status.”

CII A.P. Chairman Suresh Rayudu Chitturi said: “It is unfair. The industry has been waiting for the special status and incentives. The State government has also put its industrial policy on hold expecting special status. Major firms have been opting for north-eastern states in view of delay.”

However, Mr Suresh said that the budget was positive and energising if national perspective were to be considered. Rationalisation of subsidies, social security schemes, steps to bring stashed in foreign banks and curtail black money within country were some of the welcome moves. A proposal to set up Mudra bank to refinance micro finance organisations was indeed a welcome initiative, he said.

There were growth possibilities for manufacturing and service sector. Rolling out of Goods and Services Tax by 2016, steps to boost power generation and thrust on skill development were a few to mention, said Vijay Naidu Galla, industrialist.

CII Vijayawada zone fomere chairman Y. V. Krishna Mohan said the budget did not match expectations. The industry would have got some incentives for MSMEs if special status was announced, he said. CII former Chairman Y. Harischandra Prasad said people were anticipating that the Centre would make a substantial provision to fulfil the provisions of the Reorganisation Act. The Centre, however, did not touch upon these crucial issues, he said.

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